自媒体环境责任信息披露、分析师跟踪与企业绩效--基于微博数据的实证研究  

Information Disclosure of We-media Environmental Responsibility,Analyst Tracking and Enterprise Performance:An Empirical Study Based on Data from Weibo

作　　者：陶伟 李佳宸 于博 TAO Wei;LI Jiachen;YU Bo(Cooperative School of International Education,Tianjin University of Commerce,Tianjin 300134,China;Capital Operations Department,Tianjin Yuelan Hi-Tech Industrial Park,Tianjin 300070,China;School of Finance,Tianjin University of Finance and Economics,Tianjin 300222,China)

机构地区：[1]天津商业大学国际教育合作学院,天津300134 [2]天津阅澜科技产业园资本运营部,天津300070 [3]天津财经大学金融学院,天津300222

出　　处：《云南财经大学学报》2024年第7期51-71,共21页Journal of Yunnan University of Finance and Economics

摘　　要：随着网络自媒体平台的普及,企业开通微博并进行环境责任信息披露的现象日益普遍,但自媒体环境责任信息披露能否提升企业绩效在学界仍存在争论。研究发现:企业通过微博进行自媒体环境责任信息披露能产生明显的业绩提振作用,尽管提振效应存在年度“衰减”特征;自媒体环境责任信息披露对绩效具有倒U型影响,披露过于频繁反而会阻碍绩效上升;分析师跟踪具有中介功能,且中介作用对“低绩效、高履责”企业更突出,即责任承担与绩效能力方面的“反差”会吸引分析师关注、强化分析师中介作用。With the popularization of Internet and we-media platforms,it is increasingly common for enterprises to establish we-media platforms and make information disclosure on environmental responsibility.However,the academic community is debating on whether it is true thatthe information disclosure of we-media environmental responsibility can promote corporate performance.The paper finds that we-media discloses information on environmental responsibility through Weibo,which has a significant enhancement effect on corporate performance,although the enhancement effect declines year-by-year.The information disclosure of we-media environmental responsibility has an inverted U-shaped impact on corporate performance.Too manytimes of information disclosure,in turn,will hinder performance increase.Analyst tracking plays an intermediary role and the intermediary role is more significant in enterprises with“low performance and high fulfillment of environmental responsibility”.This result indicates that the“contrast”between responsibility taken and performance attracts the attention of analysts and thus enhances the intermediary role of them.

关 键 词：自媒体 环境责任信息披露 企业绩效 分析师跟踪 

分 类 号：F832.5[经济管理—金融学]